Facebook outage costs Mark Zuckerberg $7 billion in personal wealth

Facebook outage costs Mark Zuckerberg $7 billion in personal wealth
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Mark Zuckerberg’s personal wealth fell nearly a billion dollars for every hour Facebook, WhatsApp, and Instagram were down on Monday, sending him down to fifth place out of the world’s wealthiest people.

FACEBOOK, INSTAGRAM, AND WHATSAPP COME BACK ONLINE AFTER SEVEN HOURS

Issues affecting the social media giant led to a major stock sell-off on Monday. Facebook’s stock dropped 4.9% throughout the day, translating to a $7 billion loss for Zuckerberg, according to Bloomberg.

It also knocked him down a spot in the world's richest list, behind Microsoft founder Bill Gates. His net worth currently stands at $121.6 billion, down from over $140 billion a few weeks ago.

Users started reporting problems connecting and loading content on Facebook and its subsidiaries Instagram and WhatsApp in the morning, which persisted for seven hours. Facebook was reportedly forced to dispatch a small team of employees to its Santa Clara data center in California to reset the company’s servers manually.

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The outage also came on the heels of a whistleblower releasing internal documents revealing the company knew about problems with mental health and disinformation on its platforms.

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Tags: News, Facebook, Instagram, WhatsApp, Big Tech, stock market

Original Author: Virginia Aabram

Original Location: Facebook outage costs Mark Zuckerberg $7 billion in personal wealth

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